Thrivent Financial for Lutherans acquired a new position in MacroGenics Inc (NASDAQ:MGNX) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 53,134 shares of the biopharmaceutical company’s stock, valued at approximately $309,000. Thrivent Financial for Lutherans owned approximately 0.11% of MacroGenics at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Great West Life Assurance Co. Can purchased a new position in MacroGenics during the 4th quarter valued at about $35,000. Baker Avenue Asset Management LP acquired a new stake in shares of MacroGenics during the first quarter worth approximately $58,000. Marshall Wace North America L.P. purchased a new position in MacroGenics during the first quarter valued at approximately $59,000. Arizona State Retirement System acquired a new position in MacroGenics in the 1st quarter valued at approximately $63,000. Finally, Marshall Wace LLP purchased a new stake in MacroGenics in the 1st quarter worth approximately $80,000. Hedge funds and other institutional investors own 91.24% of the company’s stock.
NASDAQ:MGNX opened at $27.92 on Wednesday. The firm has a market capitalization of $1.39 billion, a PE ratio of -9.04 and a beta of 2.71. MacroGenics Inc has a 1 year low of $4.04 and a 1 year high of $29.80. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.14. The firm’s fifty day simple moving average is $24.12 and its 200 day simple moving average is $12.88.
MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.01) by $0.10. The company had revenue of $13.68 million for the quarter, compared to the consensus estimate of $7.43 million. MacroGenics had a negative return on equity of 62.43% and a negative net margin of 222.14%. As a group, analysts anticipate that MacroGenics Inc will post -3.07 EPS for the current fiscal year.
A number of research firms have recently weighed in on MGNX. HC Wainwright upped their price target on shares of MacroGenics from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Credit Suisse Group upped their target price on MacroGenics from $13.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. SVB Leerink lifted their price target on MacroGenics from $15.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, May 29th. BidaskClub raised MacroGenics from a “hold” rating to a “buy” rating in a research note on Tuesday, June 23rd. Finally, Zacks Investment Research lowered shares of MacroGenics from a “buy” rating to a “hold” rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $29.23.
In other MacroGenics news, SVP Thomas Spitznagel sold 7,500 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $25.30, for a total value of $189,750.00. Following the sale, the senior vice president now directly owns 7,500 shares in the company, valued at approximately $189,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Eric Blasius Risser sold 8,032 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $20.95, for a total transaction of $168,270.40. Following the completion of the sale, the senior vice president now owns 44,968 shares of the company’s stock, valued at approximately $942,079.60. The disclosure for this sale can be found here. Insiders sold a total of 16,032 shares of company stock worth $372,265 in the last ninety days. Insiders own 9.00% of the company’s stock.
MacroGenics Company Profile
MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.
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